United Tech (UTX) and Caterpillar (Cat) Lead Industrials Higher
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Industrial stocks are moving higher Thursday, with the industrial ETF (NYSE: XLI) up 1.4 percent. Large-cap names like United Technologies Corp. (NYSE: UTX) and Caterpillar Inc. (NYSE: CAT) are leading the charge, up 3 and 2 percent respectively. Traders are bullish on this sector as growth prospects in China are a little brighter following a surprise 25 basis point cut by the China central bank.
Last month analysts at Barclays reiterated their Overweight rating on UTX stating that EPS guidance is likely to hold despite fears about a global slowdown.
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Last month analysts at Barclays reiterated their Overweight rating on UTX stating that EPS guidance is likely to hold despite fears about a global slowdown.
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